Three Wall Capital Acquires Hotel In Island View From Marc Magazine & Tom Baker

The Beacon Hotel and Corporate Quarters, a 199-key hotel located at 1615 Rhode Island Ave. N.W. in downtown Washington, D.C., has been acquired by a joint venture of Rockpoint Fund V Acquisitions and Three Wall Capital. The property boasts a mix of studios, guestrooms, and suites, along with amenities like a business center, fitness center, and restaurant. The new owners plan to enhance the private rooms, restaurant, and common areas, taking advantage of its proximity to key landmarks and institutions in the area.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: Not disclosed
• Market: Island View
• Seller's Rep: Marc Magazine(Savills), Tom Baker(Savills)
• Buyer: Three Wall Capital

Savills Studley’s Capital Markets Group facilitated the sale of the Beacon Hotel and Corporate Quarters in central Washington, D.C. as part of a larger three-asset, 550-key hospitality portfolio transaction. The team involved in brokering this deal included Executive Managing Director Marc Magazine and Corporate Managing Director Tom Baker, both from Savills. Magazine highlighted the robustness of the Washington, D.C. market and the diverse interest from investors looking to capitalize on opportunities in the region.